You need a Roth IRA.  Why ?  Because it is the best wealth building, get rich [...]]]> It’s time to start thinking about investing in your Roth IRA.  Do you have one?  Are you over 18 and breathing?  Do you expect to live a while longer? Do you have anyone in this life that you care about?

You need a Roth IRA.  Why ?  Because it is the best wealth building, get rich slow, government sanctioned, tax conscience investment you could have.  Too bad there is a limit on how much you can put in each year.  But many people don’t even invest in a Roth at all.  We have to fix that.

The 3 most important facts about a Roth IRA are as follows:

1. The earnings on the money you put in are tax free! That is tax free forever, basically.  You can leave the money in the Roth and even after you’re dead, the money still earns tax free.
2. The Roth IRA does not have to be used in your lifetime. You can will it to your kids.  Read my post on How to Make a Million Dollars. You will then see how 50-60 years in a good growth mutual fund will change your kids lifestyle forever.
3. If you are married and you make under 156,000 dollars filing jointly, you can contribute at least $4000 each to a Roth every year. So a married couple can put 8000 in per year.  These numbers change some each year, so this is for the 2007 tax year.

There is much more to know about Roth IRAs, but trust me, it’s all good!

I will cover a few of the subtle things about these great investments for you in the next few posts.

Stay Tuned!

By the way, I am not giving legal advice or tax advice and I recommend you seek a professional if you need expert advice.  I am only talking from my own experience and research.

Leave me a comment, and tell me if you are taking full advantage of the Roth.